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Are people who are over 45 years of age included when calculating compulsory individual pension system?

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…Since January 2019, our employees will consist of 5 people and one of them is over 45. According to legislation, companies that has 5 and  more employees are required to register in CIPS. When we go to the bank, it is said that one of our employees can’t be included in the system as he is over 45. We were told that the number of employees we have is accepted as 4. Therefore we wouldn’t be required to register in the system as the system is not opening. Do we have to register in the system? I couldn’t see any information requiring us to do so.

 (19.12.2018)

 

Without taking into consideration if the employees fulfil the requirements of registering in the automatic enrollment (the number of employees who are over/above 45, employees who work in local/ foreign/ abroad places, without practicing any favoritism among people who work in branches and/or multiple workplaces), number of employees are calculated depending on the employer according to the declaration made to SSI and Regulation on Social Security Proceedings.

 

 

 


Source: İSMMMO
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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